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Spanish Investors Show Interest in Nicaragua
Investments from Spanish companies and cooperation from the Government of Spain will increase this year in Nicaragua.
WASHINGTON, DC, May 13, 2010 /Hispanic PR News/ -- Investments from Spanish companies and cooperation from the Government of Spain will increase this year in Nicaragua and could exceed US$100 million. Spain's Ambassador in Nicaragua, Antonio Perez-Hernandez, explained that the sectors into which investments are expected to flow are tourism, energy, potable water projects, health and education.
One of these investments will be the construction of an international airport in Barcelo Montelimar Beach Resort and Casino, located in Managua's Pacific coast. The project, which will be financed by the prestigious Spanish hotel chain and the Government of Nicaragua, will contribute significantly in boosting tourism in the area and increasing the country's connectivity.
Other Spanish firms met with the Government of Nicaragua's Economic Cabinet to discuss ways to improve the country's business climate and foster the establishment of new investment projects. Ambassador Perez-Hernandez said some of the concerns focused on facilitating business procedures, permits and transactions in general.
Part of the objectives of the meeting was to "express the desire to have an active dialogue, to make sure any problem can be solved, and we found approachability on behalf of the Government of Nicaragua," commented Ambassador Perez-Hernandez.
Perez-Hernandez reiterated that the Government of Spain will continue to collaborate in traditional areas such as health and education, but will also extend their assistance to the development of clean water and energy projects. Spain will donate nearly US$14 million for the repair of power plants and is also considering granting US$30 million for rural electrification and renewable energy projects.
In recent years, Nicaragua has made important progress in the improvement of its investment climate in an effort to continue attracting high-quality foreign direct investment. Some of these initiatives include the creation of the Free Zones One-Stop Shop to facilitate business procedures within the sector; the approval of the Coastal Zones Development Law (Law 690) which offers clear rules regarding property rights near bodies of water; and the signing of a tripartite agreement between the government, the private sector and labor unions to establish minimum wage increases between 2009 and 2013.
PRONicaragua is the Nicaraguan Investment Promotion Agency, established in 2002. It is a non-profit, public-private institution whose mission is to generate economic growth and job creation in Nicaragua by attracting high-quality foreign direct investment. The agency provides complimentary support services to qualified investors seeking investment opportunities in our country. For further information, please contact us at (505) 2270-6400 or http://pronicaragua.org.
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